Iowa Peace Officers Retirement System, Des Moines, hired Alliance Capital Management to run $35 million in active domestic large-cap growth equities and State Street Global Advisors to manage $30 million in a passive Russell 3000 index fund, pending contract negotiations, said Michael Cumming, investment officer for the $235 million fund. The new hires are the systems first growth and passive managers, he said.
Funding comes from a $65 million active domestic large-cap core equity portfolio managed by Loomis Sayles, said Mr. Cumming. Loomis Sayles will continue to manage $88 million in domestic core fixed income for the system.
Mr. Cumming cited an equity reallocation as the reason for the change.